4-Unit Townhome-Style
101-1971 Agora Cir Se, Palm Bay, FL 32909
For Sale
$725,000
All four residences are occupied, and three have updated kitchens, baths, and flooring.
Property Size4,126 SF
Price / SF$175.71
Days on Market17
Property Features for 101-1971 Agora Cir Se
General Information
Standard status
Size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Listing Agency:
Waterman Real Estate, Inc.
(321) 215-2100
Listed By:
Jeremy Sulzbach
(321) 987-0988
Source:
Exprealty
Added: Oct 22
Changed: Nov 6
Last Checked: Nov 6 at 2:18PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Waterman Real Estate, Inc.
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Investment Insights
Based on property information with market context.
This four-unit multifamily property is arranged as two-story, townhome-style residences. Each unit has 2 bedrooms, 1.5 bathrooms, and 1,032 SF. Three units have renovated kitchens with granite countertops and updated cabinetry, along with refreshed baths and new flooring. The fourth unit remains in its existing finish condition.
The property is in Palm Bay, Florida, and all four units are tenant-occupied. The current occupancy and varied interior finishes provide a clear picture of the property's existing residential configuration.
The property is in Palm Bay, Florida, and all four units are tenant-occupied. The current occupancy and varied interior finishes provide a clear picture of the property's existing residential configuration.
Key Highlights
- Four two‑story townhome‑style residences, each with 2 bedrooms and 1.5 bathrooms
- 1,032 SF per unit
- All four units are tenant‑occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,409
Cap Rate
6.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$968,180
$968.2K
Cap Rate 7%
$691,557
$691.6K
Cap Rate 9%
$537,878
$537.9K
Market Conditions
NOI Build-Up for 4,126 SF
Gross rent
$74.8K $18.12/SF
− Vacancy
−$5.6K −$1.36/SF
EGI
$69.2K $16.76/SF
− OpEx
−$20.7K −$5.03/SF
NOI
$48.4K $11.73/SF
Area
Palm Bay, FL
Vacancy
7.50%
Lease Rate
$18.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$968,180
Cap Rate 7%
$691,557
Cap Rate 9%
$537,878
Alternative Uses
Best Use
Multifamily LT 5
$691.6K
$605.1K – $806.8K
NOI $48,409 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$614.3K
$537.6K – $716.7K
NOI $43,004 @ 7.0% cap · market cap 5.93%
Theoretical Best
Office A
$1.09M
$952.5K – $1.27M
NOI $76,199 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
713
Businesses Nearby
Explore this area
Business Placement
Demographics for 32909, FL
36,789
Population
14,278
Households
2.6
Avg Household Size
42
Median Age
23%
College-Educated
92%
High-School Grad
57.7 sq mi
ZIP Area
638
Density / Sq Mi
$76,708
Median Household Income
$36,071
Median Earnings
$1,502
Median Rent
$261,400
Median Home Value
Market
Average Price Trend$/SF for Multifamily properties in Palm Bay, FL
Properties on Market for Multifamily properties in Palm Bay
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - All four residences are occupied, and three have updated kitchens, baths, and flooring.
Where is this multifamily property located?
The property is located at 101-1971 Agora Cir Se Palm Bay, FL.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Four two‑story townhome‑style residences, each with 2 bedrooms and 1.5 bathrooms; 1,032 SF per unit; All four units are tenant‑occupied
